PRL

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0841%/8h= −92.1% APRnext payment −$4.21 per $10,000 · paid last 24h −0.063%

Price spread now: Bitget against BloFin−0.256%45s7-day average −0.099% · you buy dearer than you sell

Net, funding: paid 7d − costs−$254as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$2182.176% of the position

Long on BloFin Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days−0.362%−$36 on $10k

Price spread, last 4 days (all we have)−0.966%−$97 · spread now −0.256%, 7d avg −0.099%

Together, before fees−1.328%−$133 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$25 a day on $10k at the current rate, and Bitget is 0.157% cheaper against BloFin than usual: you would sell low and buy high (−$16 if the spread goes back to its 7-day average of −0.099%). Swap the legs. The two prices were read 45 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.362% in total (about -18.9% a year). A funding rate is set anew for every payment; at this rate the next one is about −$4.21 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin PRL-USDT	0.1174	0.0941	pay 0.0471% / 4h	52m 33s	$136K	$14K	25x
Short	Bitget PRLUSDT	0.1171	0.0100	get 0.0050% / 4h	52m 33s	$836K	$402K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against BloFin. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee BloFinbpFee BitgetbpOrdersPrice spread, now −0.256%Rate

Funding earned: −$176.69
Price spread: −0.256% → −0.099%: −$15.66
Slippage, 4 orders: −$193.6
Fee BloFin: 6 bp × 2 orders: −$12
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$409.95
Costs to cover: 2.176%
Break-even: never at this rate

Slippage from BloFin: live order book, 44 min ago; Bitget: live order book, 3 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy BloFin live order book, 44 min ago	4.26 bp	60.2 bp −$60	doesn't fit	doesn't fit	doesn't fit
Sell Bitget live order book, 3 min ago	12.79 bp	36.9 bp −$37	256.2 bp −$2,562	doesn't fit	doesn't fit

PRL on 13 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate PRL_USDT	+0.0100%	4h	0.1175	+0.060%	$99K	$65K	20x	as long as short
Bitget PRLUSDTshort	+0.0100%	4h	0.1171	−0.256%	$836K	$402K	20x
SunX PRL-USDT	+0.0100%	4h	0.1169	−0.426%	$1K	$1.1M	20x	as long as short
Binance PRLUSDT	+0.0596%	4h	0.1173	−0.102%	$2.1M	$2.3M	20x	as long as short
KuCoin PRLUSDTM	+0.0596%	4h	0.1173	−0.102%	$1.5M	$247K	20x	as long as short
Extended PRL-USD	+0.0600%	1h	0.1172	−0.198%	$3K	$149K	5x	as long as short
MEXC PRL_USDT	+0.0602%	4h	0.1173	−0.085%	$464K	$170K	20x	as long as short
Aster PRLUSDT	+0.0694%	4h	0.1173	−0.054%	$6K	$614	5x	as long as short
Coinbase International PRL-PERP-INTX	+0.0840%	1h	0.1171	−0.243%	$17K	$12K	50x	as long as short
BingX PRL-USDT	+0.0870%	4h	0.1174	0.000%	—	$1.6M	—	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit PRLUSDT	+0.0886%	4h	0.1173	−0.085%	$762K	$554K	25x	as long as short
BloFin PRL-USDTlong	+0.0941%	4h	0.1174	long leg	$136K	$14K	25x
Deribit PRL_USDC-PERPETUAL	+0.2277%	1h	0.1174	+0.027%	—	—	10x	as long as short